Property Valuation
A licensed Oregon real estate appraiser must adhere to ethical and performance standards outlined in:
AThe Oregon Real Estate Agency's Code of Ethics
BThe Uniform Standards of Professional Appraisal Practice (USPAP)✓ Correct
CThe National Association of REALTORS Code of Ethics
DThe Oregon Revised Statutes Chapter 696
Explanation
Real estate appraisers (not brokers) in Oregon must follow the Uniform Standards of Professional Appraisal Practice (USPAP), issued by the Appraisal Standards Board of the Appraisal Foundation. USPAP governs ethics, independence, competency, and reporting requirements.
Related Oregon Property Valuation Questions
- An Oregon appraiser is valuing a new commercial building using the cost approach. Which of the following best describes 'replacement cost'?
- The Oregon Department of Revenue oversees the assessment and taxation process. For taxation purposes, Oregon uses:
- A comparable sale in a competitive market analysis (CMA) is typically considered most reliable when it:
- When appraising an Oregon waterfront property on the Willamette River, an appraiser would most likely apply which value adjustment?
- An appraiser applies the sales comparison approach and finds three comparables with adjusted values of $385,000, $392,000, and $389,000. The appraiser gives the most weight to the comparable requiring the fewest adjustments. Which comparable most likely receives the most weight?
- The income capitalization approach to value is most useful for appraising:
- A property produces a net operating income (NOI) of $60,000 per year. If the capitalization rate is 6%, the property's estimated value using the income approach is:
- An appraiser notes that a property has 'curable' physical deterioration. 'Curable' means:
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